A web payment processing service from CyberCash, Inc., Oakland, CA that allowed merchants to process credit cards and initiate direct transfers from customer checking accounts. Merchant transactions were sent to CyberCash servers which accessed the credit card networks and Automated Clearing House (ACH). In addition to its back-end payment processing, CyberCash also provided the InstaBuy digital wallet service that fills in the forms at any online shopping site.
One of the earliest (1995) payments systems on the Internet, CyberCash itself ran into financial trouble and declared bankruptcy in early 2001. Its North American payment services operations were quickly acquired by VeriSign, Inc., while its software assets were acquired by First Data Merchant Services Corporation. VeriSign planned to integrate CyberCash's financial processing components and customer base into its own core payment services unit. See Web payment service.
One of the earliest (1995) payments systems on the Internet, CyberCash itself ran into financial trouble and declared bankruptcy in early 2001. Its North American payment services operations were quickly acquired by VeriSign, Inc., while its software assets were acquired by First Data Merchant Services Corporation. VeriSign planned to integrate CyberCash's financial processing components and customer base into its own core payment services unit. See Web payment service.
 | Reproduced with permission from Computer Desktop Encyclopedia. Copyright (c) 1981-2009 The Computer Language Company Inc. All rights reserved. |
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